Memorandum Findings of Fact and Opinion
EKMAN, Judge:
Respondent determined a deficiency in taxpayer's Federal income tax for 1975 in the amount of $32,901.66. Due to concessions by respondent, the sole issue remaining for decision is whether a design studio became worthless and was permanently withdrawn from taxpayer's trade or business so as to entitle taxpayer to a loss deduction.
Findings of Fact
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